Advent Convertible and Income Fund (NYSE:AVK) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

Advent Convertible and Income Fund (NYSE:AVK) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.86 and traded as low as $11.63. Advent Convertible and Income Fund shares last traded at $11.66, with a volume of 64,121 shares trading hands.

Advent Convertible and Income Fund Trading Down 0.8 %

The company’s fifty day simple moving average is $11.97 and its two-hundred day simple moving average is $11.86.

Advent Convertible and Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.1172 per share. The ex-dividend date is Friday, March 14th. This represents a $1.41 annualized dividend and a dividend yield of 12.07%.

Institutional Investors Weigh In On Advent Convertible and Income Fund

Large investors have recently bought and sold shares of the stock. Ameriflex Group Inc. purchased a new stake in shares of Advent Convertible and Income Fund in the fourth quarter valued at $66,000. Wolverine Asset Management LLC acquired a new position in Advent Convertible and Income Fund in the 4th quarter valued at about $101,000. Encompass More Asset Management purchased a new position in Advent Convertible and Income Fund in the 3rd quarter valued at about $140,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Advent Convertible and Income Fund during the 4th quarter worth about $147,000. Finally, Jaffetilchin Investment Partners LLC grew its holdings in shares of Advent Convertible and Income Fund by 21.3% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 16,342 shares of the investment management company’s stock worth $192,000 after buying an additional 2,867 shares in the last quarter.

About Advent Convertible and Income Fund

Advent Claymore Convertible Securities and Income Fund is a closed-ended fixed income mutual fund launched and managed by Advent Capital Management, LLC. The fund primarily invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across the diversified sectors.